Founded in 2007, Lucid Motors is an American automotive company specializing in electric cars. It is based in Newark, California with 1300 employees. (Founded in 1971, PIF is a sovereign wealth fund owned by Saudi Arabia, founded for the purpose of investing funds on behalf of the Government of Saudi Arabia. The PIF has a portfolio made up of approximately 200 investments in the fields of telecoms, aerospace, energy, green technologies, and security. DubaiBeat previously reported their $3.5 billion investment in Uber here).